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Question 39 Chapter 3 – Unimax Class 12 Part 1 – 2021

Question 39 Chapter 3 - Unimax Class 12 Part 1 - 2021
Question 39 Chapter 3 - Unimax Class 12 Part 1 - 2021

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Question 39 Chapter 3 – Unimax Class 12 Part 1

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39. On 1st April, 2020 A, B and C start a business in partnership. A puts in Rs. 30000 in first but withdraws Rs. 10000 at end of six months. B introduces Rs. 25000 at first and increases it to Rs. 55000 at end of four months but withdraws Rs. 10000 at end of eight months. C brings Rs. 25000 at first but increase it by Rs. 20000 at the end of seven months. During the year ended 31st March, 2021, they make a net profit of Rs. 36000. Show how the partners should divided this amount on the basis of effective capital employed by each partner.

The solution of Question 39 Chapter 3 – Unimax Class 12 Part 1:

A’s Capital

Capital (Rs.)Months for which the capital has been used in businessProduct (Rs.)
300006180000
200006120000
 Total Capital300000
B’s Capital  
250004100000
550004220000
450004180000
  500000
C’s Capital  
250007175000
450005400000

Capital Ratio of A, B & C A : B : C = 300000 : 500000 : 400000 = 3 : 5 : 4

Profit & Loss of Appropriation A/c For the year ended

Particulars Rs.ParticularsRs.
To Interest on Capital  By Net Profit36000
– A (3/12)9000   
– B (5/12)15000   
– C (4/12)1200036000  
     
     
     
  36000 36000

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What is Partnership – Meaning and Its 4 Types

T.S. Grewal’s Double Entry Book Keeping +2 (Vol. I: Accounting for Not-for-Profit Organizations and Partnership Firms)

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T.S. Grewal’s Double Entry Book Keeping (Vol. II: Accounting for Companies)

Check out T.S. Grewal +2 Book 2020@ Official Website of Sultan Chand Publication

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